When a claim against the estate has been filed or suit thereon is pending, if it appears to be in the best interest of the estate and subject to the court's authorization or approval, the creditor and personal representative may compromise the claim whether due or not due, absolute or contingent, liquidated or unliquidated.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 4 - Administration Of Decedents' Estates
Chapter 50 - Claims Against Estates
§ 28-50-101. Limitations on filing of claims
§ 28-50-102. Commencement or revival of actions
§ 28-50-103. Form and verification of claims
§ 28-50-104. Presentation and filing of claims
§ 28-50-105. Allowance of claims
§ 28-50-106. Classification and payment of claims
§ 28-50-107. Claims of personal representative
§ 28-50-110. Contingent claims
§ 28-50-111. Payment of contingent claims by distributees — Contribution
§ 28-50-112. Compromise of claims